有人將選擇權的iv解讀成債券的殖利率

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Implied volatility is a characteristic of an option that has a one-to-one relationship with a particular price.  However, while the price of an option is not a particularly useful measure, IV allows you to perform some analysis.  At the very least, it allows you to compare two different options and draw all sorts of potentially useful conclusions.  It also allows you to assess a given option in a historical context, which obviously would be impossible to do with a price.  For example, in FX people look at risk reversals.  If all you had were historical time series of relevant option prices, you would have a really hard time assessing the current mkt pricing of a risk reversal in a historical context.  If you have time series of vols for the right options, it's a whole new ballgame. I think of the relationship between prices and vols for options as being similar to the relationship between prices and yields for bonds.


資料來源: elitetrader.com